WINNIPEG, Dec. 17 /CNW/ - New Flyer Industries Inc. (TSX:NFI.UN) ("New
Flyer" or the "Company"), the leading manufacturer of heavy-duty
transit vehicles in Canada and the United States, is pleased to
announce that the members of the Communications Workers of America
("CWA") main collective bargaining unit at the Company's Crookston
facility have today ratified a new collective bargaining
agreement. This new five-year contract will commence on January 1, 2011
and will expire on December 31, 2015, and replaces the previous
five-year agreement that will expire on December 31, 2010.
"This new collective agreement is representative of the strong and
continued partnership between New Flyer and the CWA. I would like to
thank the CWA, their membership and the New Flyer team for a
negotiation that was done professionally, constructively and
efficiently by both parties," said Paul Soubry, New Flyer's President
and Chief Executive Officer.
The new agreement provides annual increases of 2.5% for each of the
first three years of the contract, a 3.0% increase in year four and a
3.25% increase in year five of the contract. The collective bargaining
agreement also provides changes to overtime language and certain
vacation and benefit improvements.
The Crookston plant's unionized workforce represents approximately 9
percent of New Flyer's total workforce in Canada and the United States.
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit buses in the
United States and Canada. The Company's three facilities -- in
Winnipeg, MB, St. Cloud, MN and Crookston, MN - are all ISO 9001, ISO
14001 and OHSAS 18001 certified. With a skilled workforce of over 2,000
employees, New Flyer is a technology leader, offering the broadest
product line in the industry, including drive systems powered by clean
diesel, LNG, CNG and electric trolley as well as energy-efficient
gasoline-electric and diesel-electric hybrid vehicles. All products are
supported with an industry-leading, comprehensive parts and service
network. The Company's income deposit securities are traded on the
Toronto Stock Exchange under the symbol NFI.UN. Further information is
available on New Flyer's web site at www.newflyer.com.
This press release may contain forward-looking statements relating to
expected future events and financial and operating results of New Flyer
and New Flyer Industries Canada ULC ("NFI ULC") that involve risks and
uncertainties. Although the forward-looking statements contained in
this press release are based upon what management believes to be
reasonable assumptions, investors cannot be assured that actual results
will be consistent with these forward-looking statements, and the
differences may be material. Actual results may differ materially from
management expectations as projected in such forward-looking statements
for a variety of reasons, including the risks and uncertainties
discussed in the materials filed with the Canadian securities
regulatory authorities and available on SEDAR at www.sedar.com. Due to the potential impact of these factors, New Flyer and NFI ULC
disclaim any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, unless required by applicable law.
SOURCE New Flyer Industries Inc.
For further information: For further information:
New Flyer Industries Inc.
Chief Financial Officer